Question

Which of the following statements is true of pricing strategy? Avoid sale prices as they lead to price wars. An entrepreneur's first goal in pricing is to set the price as high as they think they can. Most consumers decide on a product using price as the number one factor. Small businesses should have smaller prices too.

Answer 1

Most consumers decide on a product using price as the number one factor

Step-by-step explanation:

Sale prices could make a market more competitive and it is also a pricing strategy.

If an entrepreneur set the price as high as s/he thinks s/he can it could take her/him out of competition in the market and it would leave her/him without profit.

Small business don't set their prices according to their business size but to the economic factor, because consumers first decide based on the economic factor because people can't buy what they can't afford.